Exports and imports grew by 31.2% and 37.7%, in the second quarter, compared to the same period in 2021, while preliminary results for 2021 also showed growth of 18.3% in exports and 22% in imports, Portugal’s national statistics institute (INE) said on Tuesday.
According to international trade data released by the INE, in the second quarter of this year, exports and imports grew by 31.2 percent and 37.7 percent, respectively, compared to the same period in 2021.
The statistical authority also presented the final results for 2021, which, due to additional information obtained in the meantime, present revisions to the preliminary results published in June, for increases of 18.3% in exports and 22.0% in imports (revisions of 0 and 0.6 percentage points, respectively).
In June 2022, exports and imports of goods registered nominal year-on-year increases of 37.1% and 41.6%, respectively (+40.7% and +45.0%, in the same order, in May 2022).
The INE noted that unit value indices (prices) grew by 18.6% in exports and 26.0% in imports.
The entity also highlighted the increases in both flows of industrial supplies (+29.0% in exports and +21.2% in imports), fuel and lubricants (+159.8% and +220.3%, respectively) and transport equipment (+60.6% and +46.1%, in the same order), also in nominal terms.
Excluding fuel and lubricants, exports and imports increased by 29.8% and 23.4%, respectively (+35.0% and +33.2%, in the same order, in May 2022).
Prices excluding petroleum products, on the other hand, registered year-on-year increases of 13% in exports and 14.6% in imports.
The trade balance of goods deficit worsened by 903 million euros compared to June 2021, reaching 2.522 billion euros.
Excluding fuels and lubricants, the deficit totalled 1.275 billion euros, which represents a decrease of nine million euros compared to June 2021.